What is capital expenditure?

Capex is the cash a company spends acquiring or upgrading long-lived assets like factories, data centers, equipment, and stores. It is taken from the investing section of the cash flow statement.

Why track the biggest spenders?

Heavy capex marks the most asset-intensive businesses, from carriers and chipmakers to energy and cloud providers. It is also what separates operating cash flow from free cash flow.

Browse all

Companies Spending the Most on Capex

How This List Is Built

Companies ranked by capital expenditures over the last twelve months, converted to US dollars. Capex is the cash a company invests in property, plants, equipment, and infrastructure.

We sum capital expenditure from the latest four quarterly cash flow statements, take the absolute value, convert to US dollars at daily exchange rates, and rank descending. Refreshed nightly.

Frequently Asked Questions

What is capital expenditure?: Capex is the cash a company spends acquiring or upgrading long-lived assets like factories, data centers, equipment, and stores. It is taken from the investing section of the cash flow statement.
Why track the biggest spenders?: Heavy capex marks the most asset-intensive businesses, from carriers and chipmakers to energy and cloud providers. It is also what separates operating cash flow from free cash flow.

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Companies Spending the Most on Capex

Data as of Aug 10, 2026prices update during market hours (15-min delayed)all figures in USD

Rank	Company					30d	Country
1	Amazon.com, Inc.AMZN	$173.03B	$2.99T	$278.09	+1.32%$3.61		US
2	Alphabet Inc.GOOGL	$132.40B	$4.33T	$357.52	+0.91%$3.22		US
3	Microsoft CorporationMSFT	$115.95B	$3.76T	$506.06	+1.21%$6.07		US
4	Meta Platforms, Inc.META	$89.33B	$1.52T	$594.92	+0.48%$2.82		US
5	Oracle CorporationORCL	$55.66B	$435.07B	$151.04	+2.73%$4.02		US
6	Saudi Arabian Oil Company2222.SR	$51.05B	$1.71T	$7.08	+0.08%$0.01		SA
7	Taiwan Semiconductor Manufacturing Company LimitedTSM	$46.29B	$2.17T	$418.47	−0.37%$1.57		TW
8	PetroChina Company Limited601857.SS	$43.06B	$294.99B	$1.61	+0.74%$0.01		CN
9	Space Exploration Technologies Corp.SPCX	$42.72B	$1.81T	$138.74	+4.23%$5.63		US
10	Samsung Electronics Co., Ltd.005935.KS	$38.67B	$1.12T	$121.35	+1.12%$1.34		KR
11	Toyota Motor CorporationTM	$31.52B	$223.55B	$188.78	−0.69%$1.31		JP
12	Exxon Mobil CorporationXOM	$29.17B	$662.22B	$159.79	+4.41%$6.75		US
13	Walmart Inc.WMT	$28.34B	$896.56B	$112.66	+0.72%$0.81		US
14	Volkswagen AGVOW3.DE	$26.99B	$43.69B	$87.15	−1.18%$1.04		DE
15	Micron Technology, Inc.MU	$25.26B	$972.40B	$861.00	−1.89%$16.57		US
16	National Grid plcNGG	$25.03B	$79.91B	$79.48	−1.73%$1.40		GB
17	NextEra Energy, Inc.NEE	$23.98B	$176.68B	$84.70	+0.06%$0.05		US
18	Chevron CorporationCVX	$22.31B	$388.16B	$194.90	+4.47%$8.34		US
19	China Mobile Limited0941.HK	$22.29B	$216.92B	$10.46	+0.24%$0.03		HK
20	AT&T Inc.T	$22.25B	$164.97B	$24.08	+1.20%$0.28		US
21	Berkshire Hathaway Inc.BRK-B	$21.63B	$1.14T	$529.42	+1.46%$7.62		US
22	SK hynix Inc.SKHY	$21.16B	$960.36B	$135.29	−1.90%$2.62		KR
23	BYD Company Limited Class H81211.HK	$21.03B	$125.18B	$11.79	+2.39%$0.27		CN
24	Petróleo Brasileiro S.A. - PetrobrasPBR-A	$20.05B	$105.95B	$16.44	+2.37%$0.38		BR
25	China Petroleum & Chemical Corporation600028.SS	$20.00B	$91.96B	$0.76	+0.39%$0.00		CN
26	Alibaba Group Holding LimitedBABA	$18.70B	$317.15B	$132.32	+3.04%$3.91		CN
27	Rio Tinto GroupRIO	$18.23B	$165.61B	$101.91	+0.80%$0.81		GB
28	ASE Technology Holding Co., Ltd.ASX	$17.73B	$82.65B	$37.59	+0.53%$0.20		TW
29	Shell plcSHEL	$17.59B	$250.79B	$89.95	+1.64%$1.45		GB
30	Verizon Communications Inc.VZ	$17.37B	$196.38B	$47.03	−0.06%$0.03		US
31	SoftBank Group Corp.9984.T	$17.16B	$196.75B	$34.52	−1.22%$0.43		JP
32	TotalEnergies SETTE	$16.70B	$195.89B	$87.96	+2.48%$2.13		FR
33	CoreWeave, Inc. Class A Common StockCRWV	$16.60B	$48.11B	$88.19	−2.74%$2.48		US
34	CNOOC Limited0883.HK	$16.57B	$141.76B	$2.98	+0.60%$0.02		HK
35	Deutsche Telekom AGDTE.DE	$16.48B	$157.10B	$32.47	−3.24%$1.09		DE
36	Engie S.A.GZF.DE	$16.24B	$77.63B	$30.55	−1.16%$0.36		FR
37	Tencent Holdings Limited80700.HK	$15.08B	$558.41B	$61.59	+0.68%$0.42		CN
38	BHP Group LimitedBHP	$14.48B	$230.18B	$90.61	+0.22%$0.20		AU
39	NTT, Inc.9432.T	$14.45B	$81.96B	$1.01	+0.88%$0.01		JP
40	China National Nuclear Power Co., Ltd.601985.SS	$13.80B	$27.04B	$1.31	+0.57%$0.01		CN
41	Equinor ASAEQNR	$13.55B	$98.00B	$40.99	+5.32%$2.07		NO
42	SempraSRE	$13.12B	$55.13B	$84.33	+0.54%$0.45		US
43	Venture Global, Inc.VG	$13.08B	$34.82B	$14.26	+7.54%$1.00		US
44	T-Mobile US, Inc.TMUS	$13.00B	$191.15B	$178.20	+0.57%$1.01		US
45	Novo Nordisk A/SNVO	$13.00B	$211.95B	$47.73	+0.99%$0.47		DK
46	BP p.l.c.BP	$12.94B	$112.45B	$42.88	+3.00%$1.25		GB
47	Tesla, Inc.TSLA	$12.92B	$1.31T	$330.88	+0.70%$2.30		US
48	Glencore plcGLEN.L	$12.57B	$89.80B	$7.68	+2.10%$0.16		CH
49	Orange S.A.ORA.PA	$12.54B	$49.52B	$18.63	−2.01%$0.38		FR
50	Brookfield CorporationBN	$12.53B	$98.90B	$44.28	+0.45%$0.20		CA
51	Brookfield Finance Inc.BNH	$12.53B	$95.06B	$15.10	−0.33%$0.05		CA
52	Xcel Energy Inc.XEL	$12.46B	$48.02B	$76.87	−1.54%$1.20		US
53	PG&E CorporationPCG	$12.41B	$45.67B	$17.04	−2.41%$0.42		US
54	Dominion Energy, Inc.D	$12.21B	$59.05B	$67.14	−0.38%$0.25		US
55	Charter Communications, Inc.CHTR	$12.11B	$20.66B	$153.29	+0.47%$0.72		US
56	Intel Corp.INTC	$12.11B	$491.89B	$97.52	−4.06%$4.13		US
57	Comcast CorporationCMCSA	$12.07B	$89.43B	$25.20	−0.63%$0.16		US
58	CITIC Limited0267.HK	$11.64B	$44.64B	$1.53	+1.26%$0.02		HK
59	Korea Electric Power CorporationKEP	$11.50B	$15.74B	$12.26	−1.84%$0.23		KR
60	Strategy IncMSTR	$11.36B	$32.20B	$97.33	−2.68%$2.68		US
61	RWE AGRWE.DE	$11.17B	$48.95B	$65.29	+0.50%$0.32		DE
62	Stellantis N.V.STLA	$11.09B	$16.15B	$5.58	+1.09%$0.06		NL
63	China Telecom Corporation Limited601728.SS	$11.01B	$85.23B	$0.93	+1.46%$0.01		CN
64	Vodafone Group Public Limited CompanyVOD	$11.00B	$36.27B	$15.75	−2.72%$0.44		GB
65	Bayerische Motoren Werke AGBMW.DE	$10.76B	$41.04B	$68.53	−0.80%$0.55		DE
66	BT Group plcBT-A.L	$10.39B	$25.64B	$2.63	−2.16%$0.06		GB
67	Hua Hong Semiconductor Ltd688347.SS	$10.14B	$68.14B	$39.22	−1.60%$0.64		CN
68	Duke Energy CorporationDUK	$10.04B	$94.48B	$121.19	−2.93%$3.66		US
69	Apple Inc.AAPL	$10.04B	$4.53T	$308.26	−1.62%$5.07		US
70	China United Network Communications Limited600050.SS	$9.88B	$20.10B	$0.64	+0.70%$0.00		CN
71	Enbridge Inc. CUM RED PREF Series BEBRGF	$9.86B	$36.02B	$16.50	+0.00%$0.00	—	CA
72	Enel S.p.A.ENEL.MI	$9.85B	$113.95B	$11.48	−1.07%$0.12		IT
73	Ford Motor CompanyF	$9.67B	$55.89B	$14.02	+0.25%$0.04		US
74	China Railway Group Limited601390.SS	$9.47B	$16.57B	$0.67	+0.89%$0.01		CN
75	SSE plcSSE.L	$9.23B	$38.72B	$32.10	−0.50%$0.16		GB
76	Entergy Louisiana, LLC COLLATERAL TR MTELC	$9.22B	$50.01B	$19.84	−0.30%$0.06		US
77	Entergy CorporationETR	$9.22B	$49.30B	$105.65	−1.43%$1.53		US
78	Exelon CorporationEXC	$9.13B	$45.85B	$44.50	−2.43%$1.11		US
79	E.on SeEOAN.DE	$9.04B	$56.95B	$21.79	−0.87%$0.19		DE
80	Energy Transfer LPET	$8.82B	$70.85B	$20.59	+2.29%$0.46		US
81	The Walt Disney CompanyDIS	$8.70B	$179.20B	$103.20	−1.63%$1.71		US
82	Huaneng Power International, Inc.600011.SS	$8.68B	$16.30B	$1.04	+0.00%$0.00		CN
83	Bank of China Limited601988.SS	$8.61B	$278.57B	$0.86	+0.87%$0.01		CN
84	LG Chem, Ltd.051910.KS	$8.42B	$15.35B	$196.13	+0.72%$1.41		KR
85	Vinci S.A.SQU.DE	$8.31B	$79.79B	$143.70	−0.80%$1.16		FR
86	Polski Koncern Naftowy ORLEN Spólka AkcyjnaPKN.WA	$8.27B	$46.82B	$40.33	+0.67%$0.27		PL
87	Eli Lilly and CompanyLLY	$8.03B	$1.16T	$1,231.58	+3.87%$45.87		US
88	Semiconductor Manufacturing International Corporation688981.SS	$7.93B	$108.05B	$18.75	−1.75%$0.33		CN
89	Woodside Energy Group LtdWDS	$7.90B	$43.74B	$23.07	+2.90%$0.65		AU
90	Honda Motor Co., Ltd.HMC	$7.85B	$41.16B	$31.72	−0.31%$0.10		JP
91	Nestlé S.A.NESN.SW	$7.79B	$256.54B	$99.74	−0.74%$0.74		CH
92	Roche Holding AGROP.SW	$7.77B	$367.46B	$461.63	+1.58%$7.18		CH
93	Enbridge Inc.ENB	$7.77B	$112.22B	$51.39	+0.21%$0.11		CA
94	LVMH Moët Hennessy - Louis Vuitton, Société EuropéenneMOH.DE	$7.71B	$275.14B	$557.98	+0.61%$3.41		FR
95	China Railway Construction Corporation Limited601186.SS	$7.69B	$12.45B	$0.92	+0.16%$0.00		CN
96	Southern Company (The) Series 2SOJE	$7.68B	$107.11B	$16.30	−0.55%$0.09		US
97	The Southern CompanySOMN	$7.68B	$106.26B	$48.51	−1.13%$0.56		US
98	Christian Dior SECDI.PA	$7.66B	$91.73B	$508.46	+0.96%$4.85		FR
99	Citigroup Inc.C	$7.63B	$231.89B	$135.22	+0.16%$0.22		US
100	Ørsted A/SORSTED.CO	$7.61B	$9.28B	$21.79	−0.67%$0.15		DK
101	Enterprise Products Partners L.P.EPD	$7.41B	$82.19B	$37.99	+0.64%$0.24		US
102	CSC Financial Co., Ltd.601066.SS	$7.38B	$25.05B	$3.86	−0.31%$0.01		CN
103	Aker BP ASAAKRBP.OL	$7.35B	$22.43B	$35.50	+2.24%$0.78		NO
104	ArcelorMittal S.A.MT	$7.34B	$56.25B	$73.90	+0.83%$0.61		LU
105	Commonwealth Bank of AustraliaCBA.AX	$7.31B	$205.86B	$123.12	−2.10%$2.64		AU
106	Occidental Petroleum CorporationOXY-WT	$7.24B	$60.03B	$36.62	+7.86%$2.67		US
107	Royal Caribbean Cruises Ltd.RCL	$7.20B	$82.60B	$308.00	−3.75%$12.00		US
108	Mitsui & Co., Ltd.8031.T	$7.05B	$87.07B	$30.72	−1.07%$0.33		JP
109	Contemporary Amperex Technology Co., Limited300750.SZ	$7.01B	$257.93B	$58.51	+1.86%$1.07		CN
110	PJSC LukoilLKOH.ME	$7.00B	$36.95B	$56.82	+0.58%$0.33		RU
111	Elia Group SA/NVELI.BR	$6.94B	$16.59B	$151.96	−0.30%$0.46		BE
112	China Shenhua Energy Company Limited601088.SS	$6.90B	$143.96B	$6.64	+1.68%$0.11		CN
113	Devon Energy CorporationDVN	$6.88B	$31.76B	$45.36	+5.54%$2.38		US
114	Brookfield Infrastructure Partners L.P.BIP	$6.88B	$17.49B	$37.98	−2.72%$1.06		BM
115	Hannover Rück SEHNR1.DE	$6.79B	$35.17B	$291.67	−0.47%$1.39		DE
116	Edison InternationalEIX	$6.78B	$26.10B	$67.83	−1.15%$0.79		US
117	Mercedes-Benz Group AGMBG.DE	$6.76B	$52.09B	$54.41	+0.00%$0.00		DE
118	Bank of Communications Co., Ltd.601328.SS	$6.75B	$90.57B	$1.03	−0.14%$0.00		CN
119	The AES CorporationAES	$6.75B	$10.50B	$14.73	+0.00%$0.00		US
120	General Motors CompanyGM	$6.70B	$79.56B	$87.96	+0.43%$0.38		US
121	Rongsheng Petrochemical Co., Ltd.002493.SZ	$6.63B	$20.06B	$2.01	+2.19%$0.04		CN
122	EOG Resources, Inc.EOG	$6.63B	$75.75B	$142.22	+5.55%$7.48		US
123	América Móvil, S.A.B. de C.V.AMX	$6.62B	$71.69B	$23.89	+0.59%$0.14		MX
124	Industrial & Commercial Bank of China Ltd.601398.SS	$6.62B	$398.67B	$1.12	+0.00%$0.00		CN
125	NVIDIA CorporationNVDA	$6.57B	$5.27T	$217.55	−2.86%$6.41		US
126	L'Air Liquide S.A.AI.VI	$6.55B	$126.42B	$198.81	−0.98%$1.96		FR
127	LG Energy Solution, Ltd.373220.KS	$6.55B	$60.67B	$259.28	+2.08%$5.29		KR
128	GD Power Development Co.,Ltd600795.SS	$6.53B	$13.30B	$0.75	+0.80%$0.01		CN
129	United Airlines Holdings, Inc.UAL	$6.37B	$40.17B	$123.76	−4.48%$5.80		US
130	The Williams Companies, Inc.WMB	$6.21B	$87.88B	$71.85	+2.06%$1.45		US
131	Costco Wholesale CorporationCOST	$6.19B	$422.52B	$952.75	+0.52%$4.93		US
132	Brookfield Renewable Partners L.P.BEP	$6.11B	$9.99B	$32.66	−1.63%$0.54		BM
133	Brookfield BRP Holdings (CanadaBEPI	$6.11B	$10.07B	$16.12	+0.06%$0.01		CA
134	Atmos Energy CorporationATO	$6.08B	$28.03B	$167.92	−1.33%$2.27		US
135	Power Construction Corporation of China, Ltd601669.SS	$6.08B	$12.33B	$0.72	+0.21%$0.00		CN
136	Fortescue Metals Group LimitedFSUGY	$6.07B	$39.16B	$25.44	−0.63%$0.16		AU
137	China Energy Engineering Corporation Limited601868.SS	$6.02B	$13.56B	$0.39	+0.38%$0.00		CN
138	Vale S.A.VALE	$6.02B	$63.50B	$14.89	+1.22%$0.18		BR
139	Hyundai Motor Company005380.KS	$6.01B	$58.27B	$287.85	+3.16%$8.82		KR
140	ANZ Group Holdings LimitedANZ.AX	$5.96B	$78.90B	$26.20	−1.70%$0.45		AU
141	BOE Technology Group Company Limited000725.SZ	$5.96B	$32.41B	$0.87	−2.97%$0.03		CN
142	AerCap Holdings N.V.AER	$5.92B	$23.59B	$149.58	−1.41%$2.14		IE
143	CGN Power Co., Ltd.003816.SZ	$5.91B	$29.63B	$0.59	+1.54%$0.01		CN
144	SK Inc.03473K.KS	$5.89B	$20.17B	$239.87	+0.00%$0.00		KR
145	Telefónica, S.A.TEF.MC	$5.88B	$23.65B	$4.20	−0.95%$0.04		ES
146	China CITIC Bank Corporation Limited601998.SS	$5.87B	$62.16B	$1.12	+0.80%$0.01		CN
147	Deutsche Lufthansa AGLHA.DE	$5.63B	$11.53B	$9.59	−0.50%$0.05		DE
148	China Unicom (Hong Kong) Limited0762.HK	$5.59B	$24.84B	$0.81	−0.39%$0.00		HK
149	GATX CorporationGATX	$5.53B	$6.26B	$176.34	−0.77%$1.37		US
150	Linde plcLIN	$5.51B	$227.81B	$492.46	+0.51%$2.48		GB

How This List Is Built

Companies ranked by capital expenditures over the last twelve months, converted to US dollars. Capex is the cash a company invests in property, plants, equipment, and infrastructure.

We sum capital expenditure from the latest four quarterly cash flow statements, take the absolute value, convert to US dollars at daily exchange rates, and rank descending. Refreshed nightly.

Frequently Asked Questions

What is capital expenditure?: Capex is the cash a company spends acquiring or upgrading long-lived assets like factories, data centers, equipment, and stores. It is taken from the investing section of the cash flow statement.
Why track the biggest spenders?: Heavy capex marks the most asset-intensive businesses, from carriers and chipmakers to energy and cloud providers. It is also what separates operating cash flow from free cash flow.